The Dealmaker: 11/16/2018

The Dealmaker is a daily note of the day’s top real estate stories served just in time for lunch. Bon Appetit! Subscribe here to receive the Dealmaker to your inbox





Rose Law Group Founder & President Jordan Rose speaking today at the national Deloitte real estate conference!

See inside Scottsdale Fashion Square’s new luxury wing. “After more than a year of renovations and millions of dollars, Scottsdale Fashion Square on Thursday opened its new luxury wing.” Check out the makeover in this 14-image non-subscriber slideshow-report from PBJ

New residential Type Coming to Avondale. “Virtua Encanto Townhomes, LLC has submitted a project proposal to the City of Avondale to build Encanto Townhomes at Palm Lane — a 116-unit townhome development at the SWC of Avondale and Encanto…” Tap to AZBEX for renderings and design details for a development that’s being called the “first of its kind in Avondale.”

HUD investigates San Carlos Housing Authority. “San Carlos Apache Housing Authority may be on the hook to pay back millions of dollars to the U.S. government in the wake of a report issued in September by [HUD] that alleges mismanagement and a variety of other allegations…” Silver Belt.

Evictions: Low-income housing crisis takes toll on Tucson renters. “Over the last fiscal year, judges in Pima County Consolidated Justice Court ordered an average of 25 evictions each day.” For low-income folks who’ve gotten the boot “[i]t’s like a bomb going off,” one county official says. In this first of a three-parter, Daily Star gives us an in-depth look at how low-income families are “living on the edge” when it comes to renting.

Most buyers don’t expect house hunting to get easier soon. About seventy percent it “will get harder or stay about the same.” That’s the main finding from NAHB’s Q3 Housing Trends Report, and it’s an opinion “shared among buyers of all ages.” Eye On Housing.

Why the housing market is slumping despite a booming economy. “These should be happy times for the housing sector…. Instead, the housing market has gone soft, acting as a drag on the overall economy rather than as a force propelling it forward.” What’s with the “disconnect”? NY Times regular feature “The Upshot” tries to sort it out.

Kitchen designers solve upper cabinet vs. window issue. The days when builders had to choose between installation of either “upper cabinets” OR “windows for more natural light” may be over. See what’s being touted as the “have-your-cake-and-eat-it-too’ solution” and “how one design team has incorporated the idea into a project,” in Houzz via Builder

Glendale city manager shifts economic focus away from downtown. City Manager Kevin Phelps: “I am going to ask our team to quit trying to force something that does not seem to be needed at this point, as the vocal downtown people have said things downtown are fine.” The story on this shift in focus toward “other areas of city” in The Glendale Star.

Adero Canyon land swap approved. Fountain Hills has given Toll Brothers Homes the green light “to continue its efforts in developing the Adero Canyon subdivision,” on “land that is within the Fountain Hills McDowell Mountain Preserve.” In return, “Toll Brothers has agreed to deed 82 acres of property it owns over to the town.” The Fountain Hills Times.

NAU seeks ABOR approval for Fourth Street purchase. NAU is looking to make a “strategic acquisition” of a 120-acre parcel located at 1301 S. Fourth St. The purchase is being described as “mutually beneficial for NAU and the community.” Details on the proposal in Arizona Daily Sun

CBRE: How autonomous vehicles will reshape office market by 2030. The report is titled “Driving Change for Real Estate,” and this is the key quote: “Autonomous vehicles may have the greatest impact on U.S. real estate markets since mass adoption of the car and expansion of the federal highway system.”AZRE has report highlights, including “steps for office owners and occupiers to position themselves for the future now.”

Top multifamily operators band together, plan massive investment in real estate tech. Disruptive real estate tech coming soon to multi-dwelling units near you! HousingWire reports that “Aimco, Boardwalk, Essex Property Trust, MAA, and UDR, are partnering with private owners Starwood Capital Group, Cortland, and GID to invest more than $100 million” in “the cutting edge of real estate tech.”

Arizona water agency floats proposal as negotiations on Colorado River deal continue. “[CAWCD’s] proposal lays out a scenario in which the agency could provide ‘mitigation water’ to soften the blow for farmers in central Arizona…” AZCentral reports, however, that the “proposal quickly faced questions…”

[COLUMN] California wildfires destroy homes and lives. Why do regulators encourage building in fire zones? “A toxic mix of bad insurance regulations and bad housing regulations ensure Golden State residents will continue to return to fire ravaged areas.” Reason.

A Utah landowner in Emigration Canyon envisions a zip line, sledding hill and gun ranges on his property. His neighbors hate the idea. That detailed headline sets the table (and nearly turns it over!) for this bit of regional we thought you’d be interested in. Head to Salt Lake Tribune for the full story.

10th Annual AZ DealMakers – January 11, 2019. Don’t miss out on the BIGGEST homebuilding industry event for real estate forecasting and analysis, featuring the best speakers in the industry, including Meritage Homes Chairman & CEO Steven J. Hilton and Christopher Todd Communities CEO Todd Wood. Plus, Belfiore Real Estate Consulting President & Founder Jim Belfiore provides an Overview on Housing. For the full list of speakers & panelists, along with registration info for Arizona Housing: Growth, Its Costs, Challenges & Opportunities, tap on! 



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As a supplement to the Dealmaker, we thought you might enjoy these articles!

Hobbs doubles lead, poised to win secretary of state race. Ballot tallies reported Thursday have State Sen. Katie Hobbs “poised to be the first Democrat elected to the post since Richard Mahoney in 1991,” as she now leads opponent Steve Gaynor (R) “by more than 13,000 votes.” Arizona Mirror.

Congratulations, Arizona! Turnout in the 2018 midterms smashed records. AZCentral enlightens us on why “turnout in 2018 will be the highest it has been for a midterm election in 36 years.” (RELATED, from AZ Cap Times: “Arizona political ad spending hit record high — $129M” • “Election Day starts weeks of political theater in AZ.” • From KTAR: “Arizona GOP plans to audit Maricopa County recorder’s role in election.”)

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November 2018